Federal Criminal Court in Bellinzona, canton Ticino.
Keystone-SDA
The Federal Criminal Court on Wednesday acquitted UBS in the Bulgarian funds case, which dates back to the Credit Suisse era. For the judges in Bellinzona, the bank was not guilty of aggravated money laundering.
+ Get the most important news from Switzerland in your inbox
The court also discontinued proceedings it had initiated against a former Credit Suisse employee, who died in 2023.
In addition, the conviction of a former wealth manager from another Swiss bank for supporting a criminal organisation was confirmed, as was that of a Bulgarian national for participation in that same criminal organisation and money laundering.
More
More
Swiss court acquits UBS in Bulgarian mafia case
This content was published on
Nov 27, 2024
The Federal Criminal Court has acquitted UBS following appeal proceedings in connection with money laundering charges linked to the Bulgarian mafia. The bank inherited the case from Credit Suisse.
Read more: Swiss court acquits UBS in Bulgarian mafia case
Adapted from German by AI/sb
How we work
We select the most relevant news for an international audience and use automatic translation tools to translate them into English. A journalist then reviews the translation for clarity and accuracy before publication.
Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team from news agencies such as Bloomberg or Keystone.
If you have any questions about how we work, write to us at english@swissinfo.ch.
Articles in this story